31750

(a) The Secretary may extend the term established in this part for the payment of excise taxes on goods introduced into Puerto Rico and authorize the introducer to take possession thereof, taking into consideration the volume or frequency of the introducer’s imports, as well as his/her history of excise tax payments.(b) Every taxpayer interested in being granted an extension to pay excise taxes shall request it in writing on the form provided by the Secretary for such purposes, and if such extension is granted before taking possession of the goods, he/she shall post a bond to the satisfaction of the Secretary to secure the full payment of the corresponding excise taxes and of any surcharges, interest, or administrative fines imposed for not paying them within the term fixed in this part. The bond must be posted with the Secretary by means of a cash deposit, letter of credit, or through a company duly authorized to post bonds pursuant to the laws of Puerto Rico.(c) Except as otherwise provided in any other section of this part, no extension for the payment of excise taxes may exceed ten (10) days, counting from the last day of the month in which the goods are taken possession of.

provided in any other section of this part, no extension for the payment of excise taxes may exceed ten (10) days, counting from the last day of the month in which the goods are taken possession of. History —Jan. 31, 2011, No. 1, § 3060.10, retroactive to Jan. 1, 2011.